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Oct 03, 2007 18:26 EEST
October 3 (SeeNews) - Belgian banking and insurance group KBC has raised its stake in Bulgarian insurer DZI to 86.99% from 85.11% as of September 14, following a buyout offer to minority shareholders, DZI said on Wednesday.
Eight companies and one private individual owning a combined 72,638 shares in DZI have accepted the KBC buyout bid, the insurer said in a statement to the stock exchange in Sofia.
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The 72,638 shares represent a 1.87% equity in DZI. KBC has proposed to pay 188.37 levs ($136.3/96.36 euro) per share in its buyout bid.
DZI, one of the 10 biggest public companies in Bulgaria in terms of market capitalisation, reported a net profit of 1.39 million levs for the first half of 2007, down 46.5% on the year.
Shares in the company closed unchanged at 188.368 levs in volume of some 89 shares on the Bulgarian Stock Exchange on Wednesday.
(1 euro = 1.95583 Bulgarian levs)
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